HG Ventures
Growth equityIndianapolis · Pre-Seed–Growth · 12 people tracked
Find your way into HG Ventures
12,469 people in our graph share verified history with the HG Ventures team — schools, employers, funds. One of them is your warm intro.
Investment thesis
HG Ventures targets early to growth stage companies commercializing advanced materials and systems in transportation, infrastructure, environmental services, and specialty chemicals. The firm leverages The Heritage Group's permanent capital base, operational expertise, manufacturing capabilities, supply chain networks, and customer relationships to support long-term value creation. The firm typically invests between $1-10 million and takes board seats when appropriate, with a focus on companies applying advanced technologies and novel business models to drive market change.
Source: firm website, verified Aug 6, 2026.
Team · 12 people
from the firm's website & curated & public directories
What they invest in
from 39 of 47 portfolio companiesCleantech ×23Advanced Manufacturing ×13Climate Tech ×13New Materials ×13Circular Economy ×12Energy ×9SaaS ×8AI & Machine Learning ×7
HQs:United States×31Canada×2Germany×2United Kingdom×2India×1Luxembourg×1
Who they back
founder profiles across 22 portfolio companiesFounding team size:solo founder×92 founders×103 founders×3
Where their founders studiedfrom 23 founders with education data
AngelPad ×2Northwestern University ×2University of Alberta ×2University of Calgary ×2
Accelerator rootsportfolio companies that came through a program
3 founders hold a PhD · 5 hold an MBA (of 26 with degree data)
Investments · 47 tracked
founders shown can be your intro pathBy year:2025 · 12023 · 32022 · 32021 · 12019 · 22014 · 111 dated
120Water builds compliance management software for water utilities and state agencies to help them manage drinking water regulations and protect public health.
Climate TechData & InfrastructureGovTechSaaSZionsville, US
Megan Casey Glover(Founder)in
Co-investorsAllos VenturesEdison PartnersElevate VenturesRevolutionRise of the Rest Seed
6K uses microwave plasma technology (Unimelt) to produce engineered materials, including battery cathode materials and metal powders for additive manufacturing, with an emphasis on sustainable processes.
Advanced ManufacturingCleantechEnergyNew Materials
Co-investorsEnergy Impact PartnersIn-Q-TelMaterial Impact
Electrochemical water purifier using patent-pending technology to remove contaminants including PFOA.
Mansfield, US
Julie Bliss Mullen(Executive Officer, Director)Leanne Hersey(Founder)inPamela Lynch(Executive Officer)Orren Schneider(Executive Officer)
BoardJiten Manglani(Director)Tom Ferguson(Director)in
Co-investorsDCVC (Data Collective)Echo River CapitalMassVenturesThe Alchemy FundBURNT ISLAND VENTURES
Aclarity develops proprietary technology to break down PFAS (per- and polyfluoroalkyl substances) compounds using electricity, offering an alternative to traditional disposal methods that involve landfilling or incineration.
CleantechClimate TechHardware
Michael Shaw(President and Chief Executive Officer)in
Co-investorsBURNT ISLAND VENTURESEcho River CapitalMaroon Venture Partners FundMassVentures
Ateios develops electrode manufacturing techniques designed to accelerate production speed, reduce carbon emissions, and decrease the physical footprint of battery manufacturing and gigafactories.
Advanced ManufacturingCleantechEnergyMedical DevicesNew MaterialsLa Jolla, US
Terry Taber(CTO)
Co-investorsCarat Venture PartnersCharmides CapitalElevate VenturesGood Growth CapitalTechstarsTitletownTech+2 more
Avenew provides infrastructure consulting and project management services to community and government leaders, helping them plan, finance, and execute transportation and infrastructure projects.
Construction TechGovTechPropTechFranklin, US
Joe McGuinness(CEO)inTravis Underhill(Chief Operating Officer)in
Bind-X develops biological dust control technology for mining operations, using a natural bio-cementation process to bind soil particles and reduce dust on haul roads, tailings facilities, and stockpiles while significantly lowering water consumption and environmental impact.
BiotechCleantechClimate TechNew MaterialsWestern Australia, DE
Heinz Schwan(Managing Director, Bind-X International GmbH)in
Biosynthetic Technologies develops innovative solutions in R&D and operations for sustainability-focused applications.
Advanced ManufacturingBiotechCircular EconomyCleantechNew MaterialsIrvine, US
Allen Barbieri(Executive Officer, Director)inDr. Matt Kriech(CEO)
BoardBernhard Mohr(Director)Meghan Sharp(Director)Kent Wasson(Director)Steve Bierschenk(Director)
Bluefield Research is a research and analysis firm that covers water infrastructure investment, policy, and digitalization trends.
CleantechClimate TechData & InfrastructureEnergyImpact & Social GoodSector Agnostic
Circulor provides digital product passport infrastructure and supply chain traceability solutions designed for regulatory compliance with EU sustainability requirements.
Advanced ManufacturingCircular EconomyEnterprise SoftwareSaaS
Giles Palmer(CEO)
Co-investors24 HaymarketAster CapitalFuture Positive CapitalInMotion VenturesRegeneration.VCSystemiq Capital+2 more
Co-investorsSun Road Syndicate
David Protein sells canned cod as a convenient, ready-to-eat protein source.
ConsumerDirect to ConsumerFoodTechHealthtechWellness & Fitness
Peter Rahal(Founder & CEO)in
Duality develops simulation software that models complex environmental scenarios and processes real-time sensor and machine data.
AI & Machine LearningDeep TechRoboticsSan Mateo, US
Apurva Shah(Founder)inMichael Taylor(Founder)in
Co-investorsDorm RoomDrive CapitalIntel CapitalHearst VenturesLemnos VCLG Technology Ventures+2 more
Equispheres designs and produces highly spherical aluminum and copper metal powders for additive manufacturing processes such as Laser Powder Bed Fusion.
Advanced ManufacturingDeep TechHardwareNew Materials
Kevin Nicholds(President, CEO, and Executive Director)in
FREDsense builds biologically-based sensing technology that uses synthetic biology, electrochemistry, and electrical engineering to monitor water quality.
BiotechCleantechClimate TechHardware
Emily Hicks(Founder)inDavid Lloyd(CEO & Co-Founder)inMaggie Renaud-Young(Lead Scientist (Co-Founder))inMelanie McClare(Chief Commercial Officer)inSusan Sutherland(Head of Marketing)in
Co-investorsEmerald Technology Ventures AgForesightFundersClubInnovative Solutions CanadaBDC Capital Corporation
Gauge provides fleet and equipment tracking, utilization, and reporting software for construction and equipment-intensive businesses to optimize asset deployment, reduce rental costs, and improve job site productivity.
Construction TechHardwareIoTLogistics & Supply ChainSaaSIndianapolis, US
Michael Paredes(CEO)in
Hyroad Energy develops hydrogen infrastructure and energy supply solutions for the transportation sector.
CleantechEnergyLogistics & Supply ChainMobility & Transportation
Dmitry Serov(Founder & CEO)
INERATEC produces synthetic fuels and chemicals from CO₂ and renewable hydrogen using microstructure technology, offering e-SAF, e-diesel, and other drop-in ready fuels and chemical products for energy and manufacturing industries.
CleantechClimate TechEnergyNot stated on page, DE
Tim Boeltken(Founder)inPfeifer Peter(Founder)in
Co-investorsEmerald Technology Ventures AgENGIE New VenturesHonda Innovations Silicon ValleyPiva CapitalPlanet A VenturesWIND Ventures+2 more
Wichita, US
Steven J. Feilmeier(Executive Officer, Director)Mark E. Humphrey(Executive Officer)David Koch(Executive Officer, Director)Dale Gibbens(Executive Officer)Joseph W. Moeller(Executive Officer, Director)John C. Pittenger(Executive Officer)
Co-investorsEnergy Impact PartnersKoch Disruptive TechnologiesMillennium ManagementQatar Investment Authority
Material Evolution produces ultra-low carbon cement replacements for concrete manufacturers, ready-mix producers, and construction companies seeking to reduce embodied carbon in their projects.
Circular EconomyCleantechConstruction TechNew Materials
Co-investorsKOMPAS VCNorrsken VCAt One VenturesPlayfair Capital
MITO Material Solutions develops patented hybrid additive technology that enhances fiber-reinforced composites and thermoplastics by functionalizing materials like graphene oxide and biomaterials, serving the manufacturing industry.
Advanced ManufacturingCleantechClimate TechDeep TechNew MaterialsStillwater, US
Haley Marie Keith(Executive Officer, Director)inKevin Keith(Director)Steve Hulme(Director)
BoardMahdi Ghazizadeh(Director)Richard J. Diemer, Jr.(Director)Joel Neale(Director)
Co-investorsCitrine AngelsCortado VenturesElevate VenturesEvergreen Climate InnovationsHouston Angel NetworkMichigan Capital Network+2 more
Molg develops autonomous microfactories using advanced robotics to disassemble electronics and recover valuable components for reuse and remanufacturing, addressing e-waste through circular manufacturing practices.
Advanced ManufacturingAI & Machine LearningCircular EconomyClimate TechHardwareRoboticsWashington, US
Mark Lyons(Executive Officer, Director)inRobert Lawson-Shanks(Executive Officer, Director)Alyssa Bryan(Director)
Co-investorsEarthshot VenturesTechFoundersTechstarsPlug and Play Ventures
OnStation provides digital stationing software for road construction crews, replacing physical survey stakes and paper field logs with location and documentation tools accessible on mobile devices.
AI & Machine LearningConstruction TechSaaSCleveland, US
Co-investorsJobsOhio VenturesJumpstart VenturesTechstars
P2 Science develops green chemistry platform technologies (including its PIOz ozonolysis and PICE polymerization processes) that convert renewable, plant-based oils into functional intermediates, specialty ingredients, and polymers.
BiotechCircular EconomyCleantechNew MaterialsWoodbridge, US
Paul Anastas(Co-founder)Patrick Foley(Co-founder & President)inNeil A. Burns(Executive Officer, Director)Oihana Elizalde(Chief Executive Officer)inBrian Chan(Chief Financial Officer)inKevin Gallagher(Director)
Co-investorsXeraya CapitalCircular Innovation FundConnecticut InnovationsEmerald Technology Ventures AgCycle CapitalSofinnova Partners
PinPoint Analytics provides data science and analytics solutions for public works construction bidding and project estimation, helping contractors and municipalities replace traditional gut-driven processes with data-informed decisions.
AI & Machine LearningConstruction TechData & Infrastructure
Jim(Co-founder)MarkJeff
Co-investorsMetaPropMetaProp Ventures
ElectraMet builds electrochemical wastewater treatment systems for metal recovery, oxidant abatement, and acid reuse, serving industrial customers in sectors such as mining and microelectronics.
Circular EconomyCleantechNew MaterialsLexington, US
CAMERON LIPPERT(Executive Officer, Director)inKeith Jacobs(Executive Officer, Director)inJames Landon(Executive Officer, Director)inANDERS HALLSBY(Director)
BoardChristopher Young(Director)Ginger Rothrock(Director)in
Co-investorsBluegrass Angel VentureCarnrite VenturesEvergreen Climate Innovations
Pretred manufactures products from waste tires and plastics with a focus on environmental sustainability.
Advanced ManufacturingCircular EconomyCleantechEnergyAurora, US
Eric Davis(CEO)inRob Volkert(COO)inMichelle E. Davis(Executive Officer)Michael D. Corrigan(Executive Officer)Brad O'Neil(Director)
BoardGinger Rothrock(Director)in
Co-investorsTechstarsDenver Ventures
Puraffinity specializes in PFAS science, water treatment, and commercialization of related technologies.
CleantechClimate TechNew MaterialsLondon, GB
Vincent Caillaud(CEO)in
Co-investorsExtantia CapitalKindred CapitalOctopus VenturesUniversal Materials IncubatorVerve VenturesAcequia Capital (AceCap)
R3 Robotics builds automated systems for disassembling and dismantling electric vehicle batteries and complete EV systems, including e-drives and power electronics, at industrial scale.
Circular EconomyCleantechRoboticsLuxembourg, LU
Antoine Welter(Founder)in
Co-investorsBONVENTURE
ReNew develops and operates renewable energy projects across India, holding one of the country's largest portfolios of clean energy assets.
CleantechClimate TechEnergy
Sumant Sinha(Founder)inVaishali Nigam Sinha(Founder)
Renewal Mill is a food and ingredients company that makes six upcycled ingredients across protein, flour, and fiber, along with baking mixes, by repurposing byproducts from food production such as juice pulp.
Circular EconomyClimate TechConsumerFoodTechOakland, US
Claire Schlemme(Executive Officer, Director)inCaroline Cotto(Cofounder)in
Co-investorsBread And Butter Ventures, LlcECP GrowthPurple Sage VenturesTechstars
Vernon, US
Michael Patterson(Executive Officer, Director, Promoter)Ken Fried(Director)Willard P Harris(Director)David Ghiyam(Director)Jon Kalikow(Director)Paul Marsolan(Director)
Simplify manufactures fabric and soft goods using proprietary bio-based materials and additive manufacturing techniques that eliminate traditional spinning, weaving, cutting, and sewing processes.
Advanced ManufacturingCircular EconomyCleantechClimate TechNew MaterialsNew York City, US
Maria Intscher-Owrang(Founder & CEO)inPhilip Cohen(Founder)in
Co-investorsAt One VenturesJetstreamJuniperTechFoundersTechstarsThe W Fund+5 more
SOLARCYCLE provides recycling services for solar farm components including solar panels, inverters, transformers, cables, and other power electronics, diverting waste from landfills and recovering metals such as silver, copper, gold, and lead.
Circular EconomyCleantechEnergyMesa, US
Suvi Sharma(Co-founder)inJesse Simons(Co-founder)inPablo Ribeiro Dias(Co-founder)Theodore Herhold(Executive Officer)inPablo Diaz(Executive Officer, Director)
Co-investorsUrban InnovationVery Serious VenturesClosed Loop PartnersFifth WallPrologis Ventures
Ann Arbor, US
Thiago Olson(Executive Officer, Director)Craig Sprinkle(Executive Officer)Chris Bartenstein(Executive Officer, Director)
BoardMichael Coffmen(Director)Jason Townsend(Director)
Co-investorsCoinFundFormless CapitalGoldenTree Asset ManagementGSRLedgerPrimeMagnus Capital+5 more
Somerville, US
Shawn Murphy(Executive Officer, Director)Scott Pearson(Director)Sean M. O'Day(Executive Officer, Director)
Co-investorsEnergy Innovation Capital
Titan is an energy storage technology company developing R&D-driven solutions aimed at changing patterns of energy storage and use.
Advanced ManufacturingAI & Machine LearningCleantechDeep TechEnergySalem, US
Co-investorsSE Ventures
Transcend builds cloud-based SaaS software that automates the preliminary engineering design of critical infrastructure assets such as water and wastewater facilities and electrical substations.
CleantechConstruction TechDeep TechSaaSPrinceton Junction, US
Adam Tank(Co-Founder)inAri Raivetz(Founder & Chief Executive Officer)inAntony Rhine(Chief Operating Officer)inChad Sands(Chief Financial Officer)in
Co-investorsChartline Capital PartnersPureTerra VenturesNational Grid Partners
West Windsor, US
Ari Raivetz(Executive Officer, Director)
BoardKip Frey(Director)Julia Sohajda(Director)John Haesler(Director)Alexander Crowell(Director)Tien Yu Sieh(Director)
Co-investorsGamma Capital PartnersPureTerra Ventures
Valerann provides real-time traffic intelligence software that integrates multiple data sources for road authorities to detect incidents faster, manage traffic flow more effectively, and optimize network operations.
AI & Machine LearningData & InfrastructureGovTechMobility & TransportationSaaS
Co-investors2B.VC
Advanced ManufacturingCleantechGolden, US
Andrew Maxey(Executive Officer, Director)inAaron Parker(Executive Officer)inDaniel Flagg(Executive Officer)inSean Kline(Executive Officer)inShari Kennett(Director)J. Scott Pusey(Executive Officer)
Co-investorsAutodesk FoundationBeyond CapitalCircular Innovation FundDiamond Edge VenturesNew Climate VenturesRockies Venture Club+6 more
Voxel offers an industrial intelligence platform that applies AI computer vision to existing IP camera infrastructure to detect safety and operational risks—such as ergonomics, PPE, vehicles, and equipment issues—and turn them into assigned, trackable actions.
Advanced ManufacturingAI & Machine LearningEnterprise SoftwareSan Francisco, US
Tilia Gode(Founder)inTroy Carlson(Founder)in
Co-investorsMTECH CAPITAL
Wildnote provides an environmental consulting platform that automates manual compliance processes for environmental professionals including scientists, consultants, and regulators.
AgTechClimate TechEnterprise SoftwareGovTechSaaSSan Luis Obispo, US
Kristen Hazard(Founder and CEO)in
Co-investorsEntrada VenturesTechstars
ZwitterCo develops zwitterionic anti-fouling membranes that resist organic fouling for filtration of industrial wastewater and process streams.
Advanced ManufacturingCleantechNew MaterialsCambridge, US
Alex Rappaport(Co-Founder & CEO)in
BoardStephen Remondi(Director)
Co-investorsBantam GroupBURNT ISLAND VENTURESDCVC (Data Collective)Genoa VenturesMunich Re Ventures
Portfolio news
latest coverage across their companies
Koch Industries · techtimes.com · Aug 26, 2026
P2 Science, Inc · prnewswire.com · Jun 3, 2026
120Water · 120water.com · Feb 24, 2026
Wildnote · axios.com · Feb 17, 2026
Duality · finsmes.com · Nov 14, 2025
FREDsense Technologies · watercanada.net · Sep 26, 2025
Titan Advanced Energy Solutions · battery-tech.net · Aug 27, 2025
Frequently asked questions
- How many investments has HG Ventures made?
- HG Ventures has 42 tracked investments, including 1 dated in the last 24 months.
- What stage does HG Ventures invest at?
- HG Ventures invests at the Pre-Seed, Seed, Series A, Series B, Series C, Growth stages.
- What is HG Ventures's typical check size?
- HG Ventures typically writes checks of $1M – $10M.
- What sectors does HG Ventures focus on?
- HG Ventures focuses on Advanced Manufacturing, Cleantech, Construction Tech, New Materials.
- Where is HG Ventures located?
- HG Ventures is headquartered in Indianapolis, US.
- Does HG Ventures lead rounds?
- Yes, HG Ventures leads investment rounds.
- Who does HG Ventures co-invest with?
- HG Ventures most often shares deals with Techstars, Elevate Ventures, Emerald Technology Ventures Ag, among 87 tracked co-investors.
Media · Podcasts & interviews
featuring the teamInvesting in a Circular Future: Insights from HG Ventures’ Ginger Rothrock
Trellis Group · Ginger Rothrock
The TOP Mistakes Founders Make When Pitching Investors with John Glushik of HG Ventures
Alexander McCobin · John Glushik
#91 Ginger Rothrock (HG Ventures) - Sustainable Corporate Venture Capital for Heavy Industries
The Wall Street Lab · Ginger Rothrock
Ginger Rothrock of HG Ventures // corporate venture capital investing in heavy construction and m...
upside podcast · Ginger Rothrock
Images
Co-investors · 1
Entrepreneur First (EF) is a talent investor that helps individuals build and launch startups, providing support such as US visa guidance, office space, fundraising preparation, and investor introductions culminating in a San Francisco Demo Day.
Firms observed investing alongside HG Ventures, from public investor directories. Shared companies are the overlap with HG Ventures's recorded portfolio.
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